Nickel market caught up in fresh squeeze
The turmoil is the latest example of acute supply stress in global metals markets, and represents the third time in 12 months that the LME has stepped in to increase monitoring.
The turmoil is the latest example of acute supply stress in global metals markets, and represents the third time in 12 months that the LME has stepped in to increase monitoring.
Russian exporters of nickel, steel, aluminum and copper paid extra export taxes in the last five months of 2021.
The company said three weeks ago that nickel output at the smelter in Finland had been stopped due to a slag explosion.
Nickel prices touched $22,935 a tonne on Friday, the highest since 2011.
Key moves in the mining ssector.
Ranking of world’s 20 best selling electric cars and their battery metals show automakers grappling with soaring raw material prices.
Indonesia has played a key role in global markets as a bulk materials supplier, but President Joko Widodo has pledged to eventually stop exports of all raw commodities to turn the country into a major manufacturing hub for electric transportation.
Nickel was the top performer among industrial metals, which also rallied as worries eased about economic growth in top metals consumer China.
Tesla agrees to buy 75,000 tonnes of nickel with a nominal value of $1.5 billion from Talon Metals-Rio Tinto JV starting in 2026.
The project has inferred resources of 8.47 million tonnes grading 0.82% nickel and 0.08% copper.
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